Today the Bankruptcy Appellate Panel for the Eighth Circuit reversed a Minnesota Bankruptcy Court in Fisette v. Keller, No. 11-6012, and that a debtor may strip off wholly underwater junior mortgages when the debtor is not eligible for a discharge in chapter 13. Prior to Fisette, the bankruptcy courts in the District of Minnesota had disallowed the strip of of underwater mortgages even when the debtor was eligible for a discharge. See the decision here.
Tags: 1322(b)(2), 1325(a)(5), 506(a), Lien Stripping8th Cir. BAP Allows Strip Off in No-Discharge 13
Posted by NCBRC - August 29, 2011
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